Former Detroit Treasurer Indicted on Corruption Charges

By

Matthew Dolan

Feb. 28, 2012 5:18 p.m. ET

DETROIT—A grand jury indicted Detroit's former treasurer on corruption charges as part of an investigation into alleged malfeasance inside the city's pension boards, according to documents unsealed Tuesday.

The former treasurer, Jeffrey Beasley, now of Chicago, was charged with taking bribes and kickbacks from January 2006 through September 2008 in return for approving more than $200 million in investments by the two city pension funds in Detroit. The U.S. attorney's office in Detroit announced the charges Tuesday after...